Reed Elsevier H1 Net Profit Rises 50%

Reed Elsevier PLC RUK posted a 50% surge in its first-half net profit. Reed Elsevier's net profit for the period climbed to GBP565 million, versus GBP377 million, in the year-ago period. Its revenue rose to GBP3.05 billion from GBP2.90 billion. Reed Elsevier's adjusted operating profit climbed to GBP845 million from GBP774 million, while adjusted pretax profit gained to GBP738 million from GBP662 million. Reed Elsevier's shares closed at $32.08 yesterday.